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Risk Assessment

Complementing AML risk assessment and KYC with identity insights

When it comes to fraud prevention in today’s ever-evolving global, digital economy, we argue that an AML risk assessment, along with traditional KYC compliance checks, should be considered just the starting point… and not the finish line. Article at a glance: AML risk assessment and KYC checks alone are insufficient in today’s digital economy, […]

9.20.2023

Ecommerce Fraud Prevention

Ecommerce fraud trends and statistics merchants need to know in 2023

With dramatic global growth and expansion across ecommerce, fraud continues to surge. Let’s take a look at the trends and statistics you’ll need to know. Article at a glance Global ecommerce fraud is increasing, with losses reaching $41 million in 2022 and predicted to exceed $48 billion in 2023. Europe faces significant ecommerce fraud […]

9.13.2023

AML Risk Assessment

From risk to compliance: the five steps to performing an AML risk assessment

In our ever-evolving digital world, technology has changed the way that we make payments, as well as our ability to send money at any time, anywhere in the world. It has also made it easier for fraudsters to conceal the origins of illegally obtained funds, making them appear to come from a legitimate source. Indeed, […]

9.6.2023

Synthetic Identity Fraud

5 AML measures that help counter synthetic identity fraud

The world of online fraud is continually growing and becoming more sophisticated. One key type of fraud that’s becoming increasingly prevalent is synthetic identity fraud. Its complex nature combines real and fake identity elements. Rather than simply stealing an identity or creating a completely fabricated identity, synthetic identity fraud uses elements of both genuine and […]

8.30.2023

Identity Verification

When identity verification becomes a double-edged sword

Why digitalizing financial services is key to preventing synthetic identity fraud, attracting the next generation of consumers and staying in business.

8.28.2023

Synthetic Identity Fraud

What is synthetic identity fraud and how does synthetic identity theft work?

5.18 billion – that’s the internet population of the world as of April 2023. Every day, billions of users access new digital services—from ordering food on their favorite app to digitally opening a bank account to purchasing a new pair of sneakers online. With over 64 percent of the world interacting online, the digital economy presents […]

8.23.2023

Synthetic Identity Theft

Uncovering synthetic identity theft with real-life cases and examples

As the fastest-growing financial crime in the United States, when it comes to synthetic identity fraud, we have had our finger on the pulse for some time; producing eBooks and blogs with the latest global statistics and best practices for preventing and detecting this nefarious behavior. However, when it comes to getting a solid grasp […]

8.16.2023

Balancing Customer Experience and Fraud Prevention

Mastercard

Understanding DORA’s vision for a resilient financial network

The Digital Operational Resilience Act (DORA) was not written with the solutions of a global payment network in mind. One look at its regulatory provisions suggests it might as well have been. The suggestion is not for a payment network to shoulder DORA compliance on behalf of financial entities operating within its network. That would be a […]

8.14.2023

Telecom Fraud

Call off telecom fraud threats this holiday season – and beyond

According to the recent Communications Fraud Control Association Report, in 2021 $39.9 billion in revenue was lost to telecommunications fraud. In the United States alone, 74 million telco customers already had their data leaked to the dark web before the end of the first quarter of this year. Unfortunately, these threats are not subsiding any time […]

8.9.2023